SEBI orders Sahara Group to refund Rs 14,000 crore to investors; US revokes duty-free concession on import of 50 Indian products; IMF says monitoring situation in India; bats for RBI's independence; carmakers see lacklustre sales during festive season; Modi using nationalism to promote domestic payments network, RuPay: Mastercard. Watch more in this episode of Business Wrap.

SEBI orders Sahara Group to refund Rs 14,000 crore to investorsIn a major setback to Subrata Roy, SEBI has found that another Sahara group firm has raised over Rs 14,000 crore in violation of legal norms and has issued a fresh order on Wednesday to the company and its directors to refund the money to investors with 15 percent annual interest. The order relates to collecting funds between 1998 and 2009 from nearly 2 crore investors through through optionally fully convertible debentures (OFCD)...

New jobs rise to 11-month high of 9.51 lakh in JulyNew job creations in July rose to an 11-month high of 9.51 lakh, taking the total tally of new enrolments to 61.81 lakh since September 2017, according to the EPFO's payroll data. Job addition numbers, which are based on new members enrolled in various social security schemes of EPFO such as pension, PF and insurance, were 9,51,423 in July -- the highest in any month since September 2017 when the retirement fund body started rel...

Reliance Jio adds over 9.71 million subscribers in June; Sensex and Nifty scale fresh highs. The Sensex and Nifty scaled fresh peaks in early trade today on gains in big cap stocks such as Bajaj Auto, ITC, Asian Paints and Adani Ports; Nirav Modi is in the UK, CBI moves extradition request; Coca-Cola India restructures leadership team in India. Watch more in this episode of Business Wrap.

Reliance Jio adds over 9.71 million subscribers in JuneThe mobile subscriber base in the country increased to 114.65 crore with net addition of 1.55 crore in the reported month. Reliance Jio led the growth in mobile segment by adding over 97 lakh new connections during the month. It was followed by Idea Cellular which added over 63 lakh new connections. Vodafone saw an addition of over 2.75 lakh new mobile connections, BSNL 2.44 lakh and Airtel 10,689. Tata Teleservices, which i...

ASK Wealth Advisors tries to estimate jobs using a completely new methodology -- the Sit-Stand-Go model, which relies on proxies (and some surveys) to come up with the number of about 5 million non-farm jobs being created annually in India.